Nick Lacy, of California-based Christian Community Credit Union, tells AFN it surveyed 1,300 professed Christians to gauge their views on where they take out loans, and deposit and withdraw their money. In the survey, 30% said they are considering moving their banking business elsewhere because their biblical worldview is not being reflected by the bank and its executives.
“So basically what that meant was that Christian values was just as important to them as a rate, for example,” Lacy says.
Some concerns over banks include their investments in far-left causes, unethical practices, and public stances they have taken on cultural and moral issues.
There is also the serious issue of “debanking,” or punishing a customer for their unwelcomed views.
By now many Christians have learned financial giant JPMorgan Chase suddenly closed the bank account of a faith-based nonprofit, the National Committee for Religious Freedom, late last year. That organization, led by former U.S. senator Sam Brownback, highlights religious persecution around the world.
Brownback and the NCRF were never informed they had run afoul of JPMorgan Chase until the account was closed. An explanation was never given for the debanking despite blistering media coverage and state attorneys general demanding answers.
Like an elephant swapping a fly, JPMorgan Chase could ignore those critics and debank any other customer it wants considering its net worth tops $406 billion.
Lacy and Christian Community are just one faith-based opportunity for frustrated customers to seek a new business partner. Others are America’s Christian Credit Union and Christian Family Credit Union, among others.
“We really believe that banking is the biblical stewardship discussion of today,” Lacy insists, “and the reason for that is because of all these things happening with big banks right now."